Researchers analyzed homes in Philadelphia near billboards to see what impact the advertisements may have on property values. The study found that homes within 500 feet of a billboard were worth $30,826 less, on average, at times of resale than similar properties further away from billboards.

Furthermore, the study found that homes located further than 500 feet away from a billboard but within a community where billboards are still present also see an impact to their home prices–a decrease of nearly $1,000 for every billboard in that community.

“Billboards are detrimental to the neighborhoods they hover over,” Mary Tracy, president of Scenic America, said in a statement. “We’ve known that billboards detract from a neighborhood’s aesthetics, its sense of place, and the mental and physical well-being of its residents. Now we know that billboards have the very real impact of lowering property values.”

What do you think? Do you think billboards really can have such a negative impact over property values?